Alkhaleej Training's net profit more than doubles to SAR 9.1 mln in H1 2020

23/08/2020 Argaam Exclusive

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Alkhaleej Training and Education Co. reported net profit after Zakat and tax of SAR 9.1 million for the first half of 2020, an increase of more than two-fold year-on-year (YoY), driven by lower cost of revenue, and a slump in marketing and administrative expenses.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	415.39	395.36	(4.8 %)
Gross Income	59.45	68.91	15.9 %
Operating Income	24.39	30.34	24.4 %
Net Income	3.74	9.05	142.3 %
Average Shares	55.42	55.42	-
EPS (Riyals)	0.07	0.16	142.3 %

The company reported net profit after Zakat and tax of SAR 4.7 million for the second quarter, versus net loss of SAR 3.58 million in a year-earlier period, due to lower cost of revenue, and decreased marketing costs.

On a quarter-on-quarter basis, the profit for the current quarter rose 6.2%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	201.24	181.59	(9.8 %)
Gross Income	18.04	26.09	44.7 %
Operating Income	7.01	15.76	124.8 %
Net Income	(3.58)	4.66	230.2 %
Average Shares	55.42	55.42	-
EPS (Riyals)	(0.06)	0.08	230.2 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	213.76	181.59	(15.0 %)
Gross Income	42.82	26.09	(39.1 %)
Operating Income	14.58	15.76	8.1 %
Net Income	4.39	4.66	6.2 %
Average Shares	55.42	55.42	-
EPS (Riyals)	0.08	0.08	6.2 %

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